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GDLC L&D Hub
  • Welcome to the L&D Hub
  • Learning Programs Hub
  • Core Courses
    • Mortgage Lending Basics
      • Module 1: Mortgage Lending Overview and Terms
        • Mortgage Lending Lifecycle Overview
        • Mortgage Origination Process Overview
        • Mortgage Processing Overview
        • Mortgage Underwriting Overview
        • Mortgage Closing Overview
        • Mortgage Post-Closing Process Overview
        • Roles in the Mortgage lifecycle
      • Module 2: Mortgage Loan Characteristics
        • Transaction Types
        • Property Types
        • Occupancy Types
        • Loan Program Basics
        • Debt Service Coverage Ratio (DSCR) basics
        • Introduction to FNMA & FHLMC
        • Conventional Loan Programs
        • Government Loan Programs
        • Portfolio Loan Programs
        • Pre-Approvals in Mortgage Lending
      • Module 3: Important Mortgage Ratios
        • Principal, Interest, Taxes, Insurance and Association Dues (PITIA) basics
        • Loan to Value (LTV) ratio basics
        • Debt to Income (DTI) ratio basics
      • Module 4: Federal Laws and Regulations
        • Truth in Lending Act (TILA)
        • Real Estate Settlements and Procedures Act (RESPA)
        • Equal Credit Opportunity Act (ECOA)
        • Home Mortgage Disclosure Act (HMDA)
        • Fair Credit Reporting Act (FCRA)
        • Dodd-Frank Wall Street Reform and Consumer Protection Act
        • Compliance with the Consumer Financial Protection Bureau (CFPB)
      • Module 5: Glossary
    • The First 3 Cs in Mortgage Lending
      • Module 1: The Four Cs of Underwriting
      • Module 2: Credit Documents
      • Module 3: Income Documents
      • Module 4: Asset Documents
    • The 4th C in Mortgage Lending
      • Module 1: Introduction
      • Module 2: Insurance Documents
      • Module 3: Title Documents
      • Module 4: Appraisals
      • Module 5: Specific Property Types
    • A Deep Dive Into Loan Programs
      • Module 1: Introduction
      • Module 2: Ratios In-Depth
      • Module 3: Programs In-Depth
      • Module 4: Brokered Loans
      • Module 5: Non-Delegated Portfolio Loans
    • A Deep Dive Into Compliance & AUS
      • Module 1: Introduction
      • Module 2: Automated Underwriting Systems (AUS)
      • Module 3: Disclosures
      • Module 4: Compliance
      • Module 5: Adverse Loans
    • A Deep Dive Into Loan Setup
      • Module 1: Introduction
      • Module 2: Loan Setup & Order Outs
      • Module 3: FHA & VA Loan Setup
    • Introduction to URLA Form 1003
      • Module 1: Introduction
      • Module 2: Section 1 - Borrower Information
      • Module 3: Section 2 - Financial Information - Assets and Liabilities
      • Module 4: Section 3 - Financial Information - Real Estate
      • Module 5: Section 4 - Loan and Property Information
      • Module 6: Section 5 - Declarations
      • Module 7: Section 6 - Acknowledgements and Agreements
      • Module 8: Section 7 - Military Service
      • Module 9: Section 8 - Demographic Information
      • Module 10: Section 9 - Loan Originator Information
    • Introduction to 2015 Itemization
      • Module 1: Introduction
      • Module 2: Fee Lines
      • Module 3: Details of Transaction
  • Role Based Courses
    • Hands On Guide: Closing
      • Module 1: Introduction
      • Module 2: Loan Documentation
        • Loan: Borrower Identification
        • Loan: Verbal Verification of Employment (VVOE)
        • Loan: Tri-Merged Credit Report & Refresh Report (Loan Quality Initiative)
        • Loan: Loan Estimate & Closing Disclosures
        • Loan: Change of Circumstance (COC) Notice
        • Loan: Mortgage Insurance
        • Loan: Interest Rate Sheet
        • Loan: Estimated Settlement Fees
        • Loan: Settlement Service Provider List (SSPL)
        • Loan: Mavent Report
        • Loan: Tax Chart
        • Loan: Invoices
      • Module 3: Property Documentation
        • Property: Purchase Contract
        • Property: Earnest Money Deposit (EMD) Letter
        • Property: USPS
        • Property: Appraisal Report
        • Property: Homeowner's Insurance
        • Property: Tax Cert./Statement
        • Property: Preliminary Title Report / Title Commitment
    • Hands On Guide: Disclosures
      • Module 1: Introduction
      • Module 2: Loan Documentation
        • Loan: Borrower Identification
        • Loan: Mortgage Insurance
        • Loan: Estimated Settlement Fees
        • Loan: Settlement Service Provider List (SSPL)
        • Loan: Mavent Report
        • Loan: Tax Chart
        • Loan: Invoices (Various)
        • Loan: Loan Estimate
      • Module 3: Property Documentation
        • Property: Purchase Contract
        • Property: Earnest Money Deposit (EMD) Letter
        • Property: USPS Search
        • Property: Homeowner's Insurance
        • Property: Tax Cert./Statement
    • Hands On Guide: Jr. Underwriting
      • Module 1: Introduction
      • Module 2: Application & Loan Terms
        • Borrower Identification
        • NMLS Search
        • Automated Underwriting System (AUS) Report
        • Loan Program Checklists
      • Module 3: Credit Documents
        • Tri-Merged Credit Report
        • Liens & Judgments Report
        • Real Estate Owned (REO) Documents
      • Module 4: Income Documents
        • Employer 411 / Reverse Search
        • Written Verification of Employment (WVOE)
        • Pay Stubs
        • W-2
        • 1099
        • Tax Returns
        • Tax Transcripts
        • Social Security Income (SSI) Award Letter
        • Divorce Decree (Court Mandated Child Support/Alimony)
        • Income Worksheet
      • Module 5: Asset Documents
        • Bank Statements
        • Portfolio Account Statements
        • Gift Letter
      • Module 6: Title Documents
        • Preliminary Title Report / Title Commitment
        • Closing Protection Letter (CPL)
        • Wiring Instructions
        • Survey
        • Errors & Omissions (E&O)
        • Earnest Money Deposit (EMD) Receipt
      • Module 7: Collateral Documents
        • Appraisal Report
        • Appraiser Independence Requirements (AIR) Certificate
        • USPS Search
        • Purchase Contract
        • Mortgage Insurance (MI) Certificate/Quote
        • Tax Certificate
        • Homeowner’s Insurance (HOI)
        • Evidence of Insurance (EOI)
        • Master Insurance
        • Homeowner’s Association (HOA) Statement
        • Flood Certificate
        • Flood Hazard Notice
    • Hands On Guide: Loan Setup
      • Module 1: Introduction
      • Module 2: Setup Documents
        • Loan Setup: USPS Search
        • Loan Setup: Tax Certificate
        • Loan Setup: NMLS Search
        • Loan Setup: Flood Certificate
        • Loan Setup: Flood Hazard Notice
      • Module 3: Income Documentation
        • Income: Written Verification of Employment (WVOE)
        • Income: Pay Stubs
        • Income: W-2
        • Income: 1099
        • Income: Tax Returns
        • Income: Tax Transcripts
        • Income: Social Security Income (SSI) Award Letter
        • Income: Divorce Decree (Court Mandated Child Support/Alimony)
      • Module 4: Title Documents
        • Title: Preliminary Title Report / Title Commitment
        • Title: Closing Protection Letter (CPL)
        • Title: Wiring Instructions
        • Title: Survey
        • Title: Errors & Omissions (E&O)
        • Title: Earnest Money Deposit (EMD) Receipt
      • Module 5: Appraisal Documents
        • Appraisal: Appraisal Report
        • Appraisal: Submission Summary Reports (SSRs)
        • Appraisal: AIR Certificate
      • Module 6: Property Documentation
        • Property: Purchase Contract
        • Property: Mortgage Statement
        • Property: Homeowner’s Insurance (HOI)
        • Property: Evidence of Insurance (EOI)
        • Property: Master Insurance
        • Property: Homeowner’s Association (HOA) Statement
      • Module 7: Other Documents
        • Other: 4506-C
        • Other: SSA-89
        • Other: Consumer Explanation Letter
        • Other: VA Certificate of Eligibility (COE)
    • Hands On Guide: Originations
      • Module 1: Introduction
      • Module 2: URLA Form 1003
      • Module 3: Credit Documentation
        • Credit: Tri-Merged Credit Report
        • Credit: Credit Supplement
        • Credit: Consumer Explanation Letter
        • Credit: Liens & Judgments Report
      • Module 4: Income Documentation
        • Income: Written Verification of Employment (WVOE)
        • Income: Pay Stubs
        • Income: W-2
        • Income: 1099
        • Income: Tax Returns
        • Income: Tax Transcripts
        • Income: Social Security Income Award Letter
        • Income: Divorce Decree (Court Mandated Child Support/Alimony)
      • Module 5: Asset Documentation
        • Asset: Bank Statements
        • Asset: Portfolio Account Statements
        • Asset: Earnest Money Deposit (EMD) Letter
        • Asset: Gift Letters
      • Module 6: Property Documentation
        • Property: Purchase Contract
        • Property: Contract Addendums
        • Property: Mortgage Statement
        • Property: Tax Certificate
        • Property: Homeowner’s Insurance (HOI)
        • Property: Evidence of Insurance (EOI)
        • Property: Master Insurance
        • Property: Homeowner’s Association (HOA) Statement
      • Module 7: Program-Specific Documents
        • Program-Specific: Borrower Identification
        • Program-Specific: Verification of Rent (VOR)
    • Communication Skills & Best Practices
      • Module 1: Communication Skills
      • Module 2: Organization
        • Organization in Outlook
        • Organization in Teams
        • Organization with Excel
    • How to Become a Great LOA
      • Module 1: Introduction to the Role
      • Module 2: Lead Management & Conversion
  • Client Based Courses
    • Workflow Review: Generic
      • Module 1: The Importance of Review
      • Module 2: Workflow Review
      • Module 3: Daily and Weekly Review
      • Module 4: Pipeline Reviews and Notes
    • Workflow Review: Closing Disclosures
      • Module 1: The Importance of Review
      • Module 2: Workflow Review
      • Module 3: Daily and Weekly Review
      • Module 4: Pipeline Reviews and Notes
    • Workflow Review: Doc Drawer
      • Module 1: The Importance of Review
      • Module 2: Workflow Review
      • Module 3: Daily and Weekly Review
      • Module 4: Pipeline Reviews and Notes
    • Workflow Review: Jr. Underwriter
      • Module 1: The Importance of Review
      • Module 2: Workflow Review
      • Module 3: Daily and Weekly Review
      • Module 4: Pipeline Reviews and Notes
    • Arrive Home Web Portal Guide
  • Software & Tools
    • Encompass Starter Guide
      • Module 1: Introduction to Encompass
      • Module 2: Accessing Encompass
      • Module 3: Navigating Encompass
        • Home Page
        • Pipeline
        • Viewing Loan Information
        • Pipeline Views
        • Searching for Loans
        • Saving Pipeline Views
        • Loan Workspace
        • Milestone Worksheet
      • Module 4: The eFolder
        • eFolder Tabs
        • Documents Tab
        • Conditions Tabs
        • History Tab
      • Module 5: Ordering Services
    • MS Teams Guide
      • Module 1: Introduction to Microsoft Teams
      • Module 2: Activity Tab
      • Module 3: Teams Tab
      • Module 4: Chat Tab
      • Module 5: UT SMS
      • Module 6: Calls Tab
      • Module 7: Cafe Tab
      • Module 8: Calendar Tab
    • MS Outlook Guide
      • Module 1: Introduction to Microsoft Outlook
      • Module 2: Sending an Email
      • Module 3: Outlook Tools
    • Automated Underwriting System (AUS) Guide
      • Module 1: Introduction
      • Module 2: Desktop Underwriter (DU) Basics
      • Module 3: Loan Product Advisor (LPA) Basics
  • Job Aids
    • Encompass Job Aids
      • Encompass: Adding File Contacts
      • Encompass: Alerts & Messages
      • Encompass: CAIVRS Request
      • Encompass: Completing the 1003
        • Borrower Summary
        • 1003 URLA – Lender
        • 1003 URLA - Part 1
        • 1003 URLA - Part 2
        • 1003 URLA - Part 3
        • 1003 URLA - Part 4
      • Encompass: Disclosure Tracking Tool
      • Encompass: Disclosure Validation Form
      • Encompass: Filling out the PITIA
      • Encompass: How to run AUS
      • Encompass: Ordering Credit
      • Encompass: Ordering DataVerify Fraud Report
      • Encompass: Ordering EVS/TWN VOE
      • Encompass: Ordering Finicity VOA
      • Encompass: Ordering Loan Beam
      • Encompass: Ordering SmartFees
      • Encompass: Ordering Social Security Number Verification
      • Encompass: Ordering Tax Transcripts
      • Encompass: Ordering the Appraisal (Non-VA)
      • Encompass: Ordering the Flood Cert
      • Encompass: Printing the Title Request Form
      • Encompass: Printing the VOR
      • Encompass: Printing the VVOE
      • Encompass: Printing the WVOE
    • Closing Disclosures Job Aids
      • ATR QM and Mavent Fail Resolutions
      • Prior to Closing (PTC) Conditions
      • Processing CD Change of Circumstance
      • Processing Initial Closing Disclosures
      • TRID Fee and Tolerance Chart
    • Disclosures Job Aids
      • Initial Disclosures
      • Processing LE Change of Circumstance
      • Fee Chart (XLSX)
      • Tax Schedules: Per State (XLSX)
    • Jr. Underwriter Job Aids
      • Homeowner's Insurance (HOI) Guide
      • Initial Submission Checklist: Conventional
      • Initial Submission Checklist: FHA
      • Initial Submission Checklist: USDA
      • Initial Submission Checklist: VA
      • Jr. Underwriting Checklist
      • Pay Stubs Guide
      • Property Tax Cert & Encompass Guide
      • Purchase Contract Review & Encompass Guide
      • VA Residual Income AKA Family Support Calculation Worksheet
      • Written Verification of Employment (WVOE) Guide
    • LOA Job Aids
      • DTI Guide
      • Income Worksheet Guide
      • Initial Checklists: CONV & FHA
      • Initial Checklists: Earned Equity
      • LTV Guide
      • Simple Nexus Guide
    • Loan Setup Job Aids
      • Completing the 411
      • DTI Guide
      • FHA Case Number Assignment
      • FHA Case Query
      • Income Worksheet Guide
      • Loan Setup Checklist
      • LTV Guide
      • NMLS License Search
      • Requesting Condo Desk Review
      • Requesting Title and Escrow Docs
      • USPS Address Search
      • VA Appraisal Request
      • Vetting Title or Escrow
      • VVOE Guide
      • Written Verification of Employment (WVOE) Guide
    • Doc Drawer Job Aids
      • ATR QM and Mavent Fail Resolutions
      • Closing Docs Process
      • Prior to Closing (PTC) Conditions
      • Processing CD Change of Circumstance
      • TRID Fee and Tolerance Chart
    • Arrive Home Job Aids
      • Earned Equity Program Guidelines
      • Down Payment Assistance Guidelines
      • Consumer 1003 Example
  • Live Sessions
    • Mortgage Lending Basics
    • The Four Cs
      • Credit
      • Capital
      • Capacity
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  1. Role Based Courses
  2. Hands On Guide: Jr. Underwriting

Module 7: Collateral Documents

Collateral documents are those related to the property or asset that the borrower pledges as security for the loan. If the borrower fails to repay the mortgage as agreed, the lender can take ownership of the collateral (typically the home) through a legal process known as foreclosure.

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